The 23-year-old Barr has spent all his career to date with Falkirk although he did have a loan spell with Forfar Athletic during the 2005/06 season. He's a regular in the side now and has played in 88 league games for the two clubs.
Barr was sent off three times last season. One of them was rescinded on appeal but he still missed a number of games through suspension.
He's in demand and a number of other English clubs, plus Rangers, are said to be interested in him.